XAU/USD – Daily Chart
Forex Signals Nov 14: MUFG Mitsubishi, Spire, QUBT, And ABTC Earnings Preview Today
A diverse array of earnings reports from MUFG, Spire, Quantum Computing Inc., and American Bitcoin Corp. will offer fresh insights into...
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Last updated: Friday, November 14, 2025
Quick overview
- Earnings reports from MUFG, Spire, Quantum Computing Inc., and American Bitcoin Corp. are expected to influence market sentiment and volatility across various sectors.
- Today's trading session exhibited unusual volatility, with analysts struggling to pinpoint a single catalyst behind the market movements.
- The U.S. dollar weakened despite a risk-off mood, diverging from typical market behavior during equity selloffs.
- Gold prices fell below $4,200 after reaching record highs, influenced by profit-taking and cautious comments from the Federal Reserve.
A diverse array of earnings reports from MUFG, Spire, Quantum Computing Inc., and American Bitcoin Corp. will offer fresh insights into utility demand, financial stability, progress in quantum technology, and the efficacy of cryptocurrency mining.
Market Moves Defy Easy Explanation
Today’s trading session delivered a confusing mix of signals, leaving analysts struggling to identify a single catalyst behind the widespread volatility. While shifting expectations around Federal Reserve policy played a role, the scale and nature of the equity selloff suggest other forces may have been at work.
Fed Expectations Shift, but Don’t Fully Explain the Selloff
Market pricing for a potential December rate cut slipped sharply, dropping from 66% earlier in the week to around 50% today. That pullback in dovish expectations certainly contributed to the pressure on equities, yet it doesn’t fully justify the magnitude of the decline. Notably, the rhetoric from Fed officials remained entirely familiar — no new hawkish surprises, no fresh policy signals.
Dollar Weakens Despite Risk-Off Mood
Adding to the confusion, the U.S. dollar failed to rally during the market turbulence. Typically, when stocks sell off hard, the USD benefits — yet the opposite occurred.
The euro, pound, and yen all advanced, with the pound outperforming as easing concerns over the UK’s fiscal outlook supported sterling. This divergence suggests the equity moves were driven by factors beyond standard macro reactions.
Speculation Around Overpriced AI and China Headlines Falls Short
Some attributed the turmoil to worries about AI sector exhaustion or China-related chip announcements, but neither explanation fits neatly. There were no groundbreaking updates — only the same ongoing concerns about overvaluation and elevated spending in the AI space.
Michael Burry’s decision to step aside from bearish positioning added a psychological element, as capitulation from a well-known bear often appears near a market top. Still, it would require a broad wave of investors embracing that narrative to generate the type of sudden drop seen today.
Cross-Asset Reactions Paint a Conflicting Picture
What made the session even more unusual was how contained the broader market reaction was outside of stocks.
- Currencies remained orderly, with little sign of panic.
- Bonds actually sold off, which contradicts the typical flight-to-safety pattern during equity stress.
This combination implies that no major fundamental shift occurred, and today’s declines may have been more about positioning, exhaustion, or short-term sentiment than genuine economic concern.
Key Market Events to Watch Today: Earnings Calendar Overview
A new round of earnings reports hits the market today, with companies across finance, technology, and digital assets set to release results that could influence sector sentiment and intraday volatility.
MUFG – Mitsubishi UFJ Financial Group (Q2 2025 Earnings)
- Reporting before the market opens.
- Expected EPS: $0.26, reflecting stable performance from Japan’s largest bank.
- Investors will monitor credit quality metrics, loan growth, and exposure to FX fluctuations.
- Any revisions to full-year guidance may influence the broader financial sector in Asia and U.S. ADR trading.
SR – Spire Inc. (Quarter Ending September 2025)
- Earnings expected today, offering insight into utility sector demand ahead of winter.
- Expected EPS: $0.46.
- Focus areas include natural gas distribution trends and updated commentary on regulatory environments.
- Could impact sentiment around defensive sectors if results surprise to the downside or upside.
QUBT – Quantum Computing Inc. (Q3 2025 Earnings)
- Reports after the market close (AMC), often a catalyst for increased speculative trading.
- Expected EPS: –$0.05, consistent with early-stage tech firms still scaling operations.
- Investors will seek clarity on revenue generation, commercial partnerships, and advancements in quantum systems.
- A larger-than-expected loss may pressure high-risk tech names, while positive developments could spark volatility.
ABTC – American Bitcoin Corp. (Q3 2025 Earnings)
- Earnings release expected today, though no EPS estimate has been provided.
- As a crypto-focused company, results may track digital-asset market swings.
- Traders will watch closely for updates on mining efficiency, production volume, and cost-management measures.
- Any operational surprises may spill over into sentiment around smaller crypto-adjacent equities.
Today’s earnings lineup spans traditional finance, regulated utilities, emerging quantum-tech, and crypto mining—an unusually diverse mix that could trigger sector-specific swings rather than broad market movement. While large-cap indices may remain steady unless results significantly disappoint, individual names could see pronounced volatility as traders react to guidance updates and forward-looking commentary.
Gold Pulls Back Below $4,200 Again
Although demand for safe haven assets is still high, gold fell precipitously from record highs following the Fed’s most recent rate cut comments, as profit-taking was prompted by Powell’s cautious tone. Earlier this month, gold jumped above $4.3800 following the Federal Reserve’s announcement of a 25 basis point rate decrease. But the impetus soon waned, and prices dropped back to $4,004. The 20 daily SMA (gray) held as support last week, but it gave way yesterday as sellers pushed Gold below $3,900 but buyers returned and pushed XAU above $4,200K breaking above the 20 daily SMA (gray) but yesterday the price stalled.
Closing Our Long USD/JPY Signal
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips.
USD/JPY – Weekly Chart
Cryptocurrency Update
Bitcoin Breaks Below the 50 Weekly SMA
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down below $105,000 before finding support at the 200 daily SMA (purple) and recovering above $115,000 but then fell toward $100K again. However over the weekend BTC started to rebound off the $10oK again and the price climbed above $106K but reversed lower and yesterday BTC fell below $100K, breaking the 50 weekly SMA too.
BTC/USD – Weekly Chart
Ethereum Heads to $3,000
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. This Week we saw a dive below $3.500 as ETH heads toward $3,000.
ETH/USD – Daily Chart
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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